https://www.taxtmi.com/caselaws?id=780680 ITAT, Delhi (AT) held that remuneration received by a partner from a firm under s.28(v) is business income, so expenditures incurred exclusively to earn that income - including depreciation on a motor car - are allowable under ss.32 and 37. Applying the rule of consistency, amounts allowed in earlier years must be permitted in subsequent assessments. Noting a co-partner's similar claim was allowed for the relevant year and on the facts, the tribunal allowed the assessee's appeal and permitted the business expenditure deduction. en-us Fri, 24 Oct 2025 00:00:00 +0530 Tue, 04 Nov 2025 08:03:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780680 ITAT, Delhi (AT) held that remuneration received by a partner from a firm under s.28(v) is business income, so expenditures incurred exclusively to earn that income - including depreciation on a motor car - are allowable under ss.32 and 37. Applying the rule of consistency, amounts allowed in earlier years must be permitted in subsequent assessments. Noting a co-partner's similar claim was allowed for the relevant year and on the facts, the tribunal allowed the assessee's appeal and permitted the business expenditure deduction. Case-Laws Income Tax Fri, 24 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780680